‘We Have No More Funds’: Canadian Exchange MapleChange Exit Scams

A Canadian cryptocurrency trade has closed down, claiming {that a} hacker had withdrawn all of the funds. But many are suggesting that that is nothing greater than an exit rip-off.

A Scam I Am?

The trade, MapleChange, opened in May and listed 62 tokens, together with Bitcoin, Litecoin, and Ethereum. Volume was modest, peaking at $67ok, however there have been sufficient common customers to amass a wholesome stability sheet. According to some sources, the quantity stolen within the ‘hack’ was 913 bitcoin (near $6 million).

Users had been questioning MapleChange’s legitimacy as early as June, as seen on this bitcointalk discussion board thread requesting extra info on the trade. The response from a beforehand listed token, solariumcoin, paints a damning image, albeit in barely damaged English:

they don’t have any crew member,
positioned at nowhere and solely point out canada…

…too many shaddy single child developer. left late discussion board speak as a result of have challenge with my remark that warn all people of the rip-off exit trade developer.

Solariumcoin went on to say that they’d already delisted from MapleChange.

A small crypto trade pulled off an exit rip-off, taking all buyer funds.

There isn’t any incentive for utilizing small exchanges. Use established exchanges which might be regulated, & clear.

Sorry it needed to finish this fashion

Was this an correct forecast of what was to return, did it plant the seed of an thought within the thoughts(s) of the MapleChange developer(s), or did the positioning genuinely get hacked? There are a number of hints that maybe any person is being lower than fully trustworthy.

The claimed must shut down “all of our social media” aroused suspicions in lots of. But previous to this, there was additionally one other trace that one thing was awry.

Due to a bug, some folks have managed to withdraw all of the funds from our trade. We are within the strategy of a radical investigation for this. We are extraordinarily sorry that it has to return to finish like this. Until the investigation is over, we can not refund something.

— MapleChange (@MapleChangeEx) October 28, 2018

The preliminary announcement of the bug and hack, states that MapleChange ‘are within the strategy of a radical investigation’. But it additionally states that ‘We are extraordinarily sorry that it has come to finish like this’, so it appears the results of the ‘investigation’ had already been determined.

Vigilante Justice

Victims of the collapse (and folks with an excessive amount of time on their arms) have already shaped a Twitter group referred to as maplechang’ed. So far this has turned up hyperlinks between the MapleChange CEO and each a mining pool and an obvious rip-off cryptocurrency referred to as Weycoin.

They have even posted footage that he used on Social media accounts, and the Plenty of Fish free courting web site. Best to simply carry on working now… The web is after him.

Was this an exit rip-off? Share your ideas beneath!

Images courtesy of Shutterstock

The publish ‘We Have No More Funds’: Canadian Exchange MapleChange Exit Scams appeared first on Bitcoinist.com.